The Security Leadership Council is involved in the growing field of cyber security. The Council works to make the Internet-connected world safe.
Let’s start with a simple example: Today, having a credit card in your name – even if you do not use it – could result in your identity being stolen. If that happens, you might be just inconvenienced – or you might find yourself responsible for fraudulent charges. Your credit score could plummet, through no fault of your own.
Some banks are lobbying to push ultimate responsibility onto the businesses that accept credit cards. Some businesses are resisting responsibility. This means that, too often, the card holder is being pressed to make good for fraudulent charges.
The issuers of cards are adopting a new standard for cards – a chip will replace the current magnetic strip. But some card issuers want to continue with cardholder signatures as the second verification (called “chip and sign” in the industry). Europe and other parts of the world have already adopted a safer protocol: “chip and PIN.” That protocol replaces the signature with a PIN entered by the card holder at time of purchase, as is frequently the practice with debit cards today.
With “chip and sign,” the United States will still be more attractive to hackers and identity thieves than other countries. Cardholders in the U.S. would be safer if “chip and PIN” were adopted.
The Security Leadership Council is working to create a safer environment for all parties. We are working with the executive and legislative branches of governments to make credit cards safer.
Major purposes of the Security Leadership Council are, first, to protect the interests of honest credit card holders and, secondly, to protect the honest businesses that accept credit cards. Credit card processors and issuers who share this philosophy are also welcome in the Council, of course.
Today, the Council represents thousands of businesses and individuals in Washington and other national capitals. We are involved in the evolving world of cyber security.
In an era of increasing cyber attacks, worldwide, the mission of the Council is more important than ever.